Publish Date:
Mirae Asset Mutual Fund has launched – Mirae Asset Multi Asset Allocation Fund.
It is an open-ended scheme investing in equity, debt & money market instruments, Gold ETFs, Silver ETFs and exchange traded commodity derivatives.
Accordingly, the investment objective of the scheme is to provide long-term capital appreciation from a portfolio investing in equity and equity related securities, Debt and money market instruments, Gold ETFs, Silver ETFs and Exchange Traded Commodity Derivatives. However, there is no assurance that the investment objective of the Scheme will be realized.
[Read: How a Multi-Asset Fund Can Protect Your Portfolio at a Market High]
Under normal circumstances, Mirae Asset Multi Asset Allocation Fund will hold an allocation of 65% to 80% in equity and equity related instruments, 10% to 25% in Gold ETFs, Silver ETFs, Exchange Traded Commodity Derivatives (ETCDs), 10% to 25% in Debt securities (including securitized debt & debt derivatives), money market instruments (including Triparty REPO, Reverse Repo and equivalent) and 0% to 10% in Units issued by REITs & InvITs.
As per the Scheme Information Document, Mirae Asset Multi Asset Allocation Fund will invest in a diversified portfolio of domestic equity, international equity, debt & money market instruments, Gold ETFs, Silver ETFs and Exchange Traded Commodity Derivatives. Different asset classes exhibit different risk-return profile and relatively low correlation to each other as compared to investments within the same asset class
The scheme seeks to benefit from the low correlation among these asset classes with a view to provide risk adjusted returns. The allocation in various asset classes would be decided based on the fund manager’s outlook on the prevailing market conditions, macro-economic conditions and business environment.
Mirae Asset Multi Asset Allocation Fund’s performance will be benchmarked against 65% S&P BSE 200 TRI + 20% NIFTY Short Duration Debt Index + 10% Domestic Price of Gold + 5% Domestic Price of Silver.
The scheme will be managed by Mr Harshad Borawake (Equity portion), Mr Amit Modani (Debt portion), Mr Siddharth Srivastava (Dedicated Fund Manager for Overseas Investments) and Mr Ritesh Patel (Dedicated Fund Manager for Commodity Investments)
The NFO opens for subscription on January 10, 2024 and closes on January 24, 2024. The schemes will reopen for continuous sale and repurchase on February 01, 2024.
The minimum subscription amount is Rs 5,000/- and in multiples of Re.1/- thereof.
The scheme offers Regular Plan and Direct Plan each plan offers Growth option and Income Distribution cum capital withdrawal Option (IDCW).